Incorporating seller/buyer reputation-based system in blockchain-enabled emission trading application

Blockchain Enhanced Emission Trading Framework in Fashion Apparel Manufacturing Industry

“…The blockchain technology, specifically, has proven to be a viable solution also compatible with Industry 4.0 [9]. Compared with solitary efforts from government authorities advocating sustainable policies, the blockchain could provide a platform that pushes forward the topic to the public with transparent and trustable records [9,61]. With the proposed framework, more details of FAMI are included in the ETS framework.…”

“…All the distribution, transfer, cancellation and inventory of the carbon allowance will be kept and managed irreversibly. Moreover, current studies have shown that the credible information provided by blockchain could protect the system from fraud and other problems such as double counting issues [9,41].…”

“…Meanwhile, there are only finite amount of existing studies on the blockchain supported ETS [9,12,61]. Blockchain secures creditable entries, which will virtually increase the trust between different participants.…”

“…In this community, each member maintains his or her own copy of the information and all members must validate any updates collectively through complex algorithms and cryptology replaces third-party intermediaries as the keeper of trust. With such decentralized peer-to-peer (P2P) features, the blockchain is regarded as a suitable system supporting Industry 4.0 [9]. Various organizations have begun exploring ways that blockchain might profoundly transform some of their most basic operations, from the way they execute contracts and carry out transactions to the ways they improve efficiency, engage potential customers, and more.…”

“…Meanwhile, Khaqqi et al [9] proposed a novel Emission Trading Scheme (ETS) model, also under the framework of Industry 4.0. The proposed ETS model uses blockchain technology and smart devices to improve compliance measure of ETS policy.…”